Sify Technologies Posts Revenues $121.62 Million for 08-09

CHENNAI, India, April 24 /PRNewswire/ -- Sify Technologies Limited (Nasdaq National Markets: SIFY), a
leader in Enterprise and Consumer Internet Services in India with global
delivery capabilities, announced today its consolidated unaudited results
under the International Financial Reporting Standards (IFRS) for the fiscal
year ended 31st March 2009.

Performance Highlights FY 2008-09 (Unaudited)

- Sify reported revenues of $ 121.62 million for the year
ended 31st March 2009, 3 % higher than the previous year's revenue of $
117.88 million.
- The Enterprise business registered growth of 13% over the
previous year, while the consumer business' revenues were 26 % lower
than the previous year. The international business ended the year with
an increase of 29 % over the previous year.
- Net Loss for the year was $ 16.85 million as against a Net
Profit of $ 0.50 million in the previous year.
- Capex during the year was $ 29 million on account of data
centre expansion and the doubling of network reach over the first
three quarters. This also increases current operating costs, whereas
revenues will take time to scale across all the newly established
locations.
- Sify ended the year with a cash balance of $ 7.20 million
after capital expenditures of $ 29 million during the year.

Mr. Raju Vegesna, Board Chairman and CEO & MD, Sify
Technologies, said, "Sify's domestic enterprise business has grown despite a
slowdown in IT investments and consequently in services. However, we expect
continued growth in the enterprise business going forwards led by demand for
our data center and carrier voice services. Our international businesses also
continue to grow by identifying opportunities in the current environment.
Retail services, particularly access services, have proved a challenge in the
past year, and we are consolidating our position going forwards".

Mr CVS Suri, Chief Operating Officer, Sify, said, "Our
enterprise services drove Sify's growth with a larger percentage share of
total revenues last year. We expect VoIP carrier services and our Data Center
services to be the growth drivers for the enterprise business going forwards.
We continue to expect growth across all businesses including connectivity,
security and application services. Revenues during the year were from both
new customer engagements and enhanced requirements from existing customers.
Our international businesses have grown, and will continue to grow, by
focusing on opportunities in identified verticals of business and industry.
On the consumer front, the access business has been a challenge, and this is
being addressed with rationalization of product portfolios based on consumer
demand, as well as focusing on services in cities where we are well
represented. Our interactive services capability was enhanced with a new
content management system that is multi-media capable, and allows for greater
efficiencies, flexibility, scalability and user interactivity. New
initiatives for video content across entertainment, sports and lifestyle
areas such as cookery saw us gaining new users during the year".

Mr. MP Vijay Kumar, Chief Financial Officer, Sify, said,
"During the year we have focused on greater efficiencies and consolidation to
enable us to expand infrastructure to capitalize on future opportunities
while running a lean organization. We have also ensured adequate funding for
growth, both in terms of debt as well as capital recovery, by scaling back on
earlier investments in facilities. This is reflected in our cash position at
the end of the last financial year, while the SG&A for the year reflects
increased costs incurred for expansion of infrastructure. We continue to
review costs on an ongoing basis, across infrastructure, operations and
people costs, to return to profitability despite the challenging
environment".

Sify is now fully operational as a long distance operator for wholesale
voice with a steady increase in business. We are using our IP expertise
effectively in offering and managing these services.

Significant wins for data centre services were from the General Insurance
Corporation, State Bank of India and Vishal Retail. Connectivity engagements
were signed with Canpack, HDFC SLIC and Indian Overseas Bank.

Application services were signed with the Indian Institute of Banking &
Finance and ICICI Prudential. While managed voice contracts were gained from
Cobwell & Salmon and Cleaves Global.

Government investments in eGovernance and services, Public Sector
Enterprises investing in IT, enablement and rural banks and co-operatives are
driving demand for enterprise services in the current environment. Public
Sector Banks are continuing to invest in IT to gain efficiencies and improve
customer services.

International services:

Infrastructure management services:

Infrastructure management services are seeing fresh traction in the
western markets in the current environment. This has resulted in queries and
an increase in our engagements with existing customers.

Consequently the sales force in the US has been strengthened to meet this
opportunity. Lead times, however, are longer as decision making is now more
layered. Interest is from across verticals including finance, high tech,
manufacturing and others.

eLearning services:

Sify eLearning continues to identify opportunities in the current
environment for its services. While there is increasing pressure on price or
added value, our focus has been on efficiencies in delivery to protect
margins. We are also ensuring skill sets to meet with the evolving
requirements of the eLearning space. We also launched Learning Infrastructure
on a Services Model as a new service offering in the last quarter.

Among the awarded contracts, some of the notable wins were from customers
such as a global leader in Business Intelligence Products and Services, a
Global Investment Management organization, and our being empanelled as a
preferred vendor by a Canadian City Municipal Agency.

CONSUMER SERVICES

Access media services

Broadband to home:

CIO, CTO & Developer Resources

Consumer offer to promote timely renewals: The offer of
winning Rs 1500 on timely renewals was promoted through web pop-ups, text
messages to customers, telemarketing and through the website. There was a
significant Improvement in on-time renewals and payment realization, with due
date renewals scaling up by more than 10% in Jan soon after the offer was
launched.

Launch of "double speed @ night" product: The launch of the 64
kbps (Day) 128 kbps (Night) Unlimited plan, Sify Broadband completed its
unique "double speed @ night" product range. There are now three plans in
this range offering differing speeds, but double the download speeds at night
and unlimited downloads all day long. Customers who do basic tasks during the
day that do not require high speeds, but heavy downloads at night find these
packages very attractive and affordable.

e-port cyber cafes:

Internet Learning Program at Sify e-Ports: Sify tied up with
the National Internet Exchange of India (NIXI) to launch a certified course
in the use of the Internet to educate people on how to use the Internet
purposefully. The objective of this program is to spread Internet awareness
and usage, particularly in tier-II and III cities of India.

The ten-hour course at just Rs 125/- is aimed at people who do
not have access to personal computers at home and is available at Sify
e-Ports across the country with content developed by Sify. On completion of
the course, participants get a certificate jointly issued by Sify and NIXI.
The certificates are signed by the Secretary, Department of Information
Technology (DIT).

Rationalization of the e-Port product portfolio: A
standardized set of products across all e-Ports is now available with an
extensive rationalization of the range to arrive at a mix of 11 products, new
registrations and renewal combined. These products cater to varied
requirements of customers, be it with respect to pricing, validity or value
for money.

Consolidation of cafes in existing locations: Potential
franchisees to start e-Ports in existing cities are being carefully screened
before opening new cafes. Existing cafes are also being monitored on multiple
parameters, including the involvement & interest of the franchisee and
viability of the location in a dynamic urban environment. If proving
unviable, these cafes are being closed down.

Interactive services:

Improvement of the content management system and delivery
platform has resulted in greater automation and reduced costs for both
content and people. The automated content management system also allows for
greater flexibility and scalability going forwards. It also is multi-media
capable and enables greater focus on user related features.

Sify.com continues to enhance its capabilities and content
with alliances with companies such as Google, World Wrestling Entertainment
(WWE), Sony Entertainment Television, Zee TV and others to offer compelling
entertainment and sports content including video content. This is
resulting in new users coming in for the rich media content that they can
enjoy on Sify.com.

Sify.com revamped its internationally popular food channel
'Bawarchi' (http://food.sify.com/) to enhance it with multi-media
capabilities and to make it more contemporary and user friendly. The revamped
Bawarchi continues to offer the best of Indian cooking to an international
audience with enhanced features that include videos and tools for greater
user interactivity.

Sify sports (http://sify.com/sports/) started live streaming
of international cricket matches, including the India - New Zealand,
Australia- South Africa, and West Indies - England series. This has met with
a very encouraging response from users as Sify was the only portal in India
to offer this facility. It also proved of increasing interest to advertisers.

Sify.com tied up with Zee Television while continuing its
relationship with Sony Entertainment Television to bring popular reality
shows Dance India Dance (http://danceindiadance.sify.com/ ) and Jhalak
dikhhla jaa (http://jhalakdikhhlajaa.sify.com/ ) to online audiences. The
highly popular sites offer fans interactive tools, community features,
videos, gallery, show recaps, message boards and expert diaries.

The newly introduced Sifymail WIYI (World In Your Inbox) has
met with an encouraging response with growing numbers of users subscribing
per day. The feedback regarding the widgets that enable users to personalize
their inbox to become their veritable home page on the Internet has also been
very positive.

Games (http://games.sify.com ) continued to grow in number of
users with the recently launched Antzill range of games gaining traction. The
site has also been widely reviewed and written about which has helped attract
many new users.

Stree, an exclusive section for the contemporary woman was
launched (http://sify.com/news/women ) during the last quarter. The special
channel includes sections on lifestyle, family, health, career tips, leisure,
cookery tips, help and astrology.

About Sify

Sify is among the largest Managed Enterprise and Consumer Internet
Services companies in India, offering end-to-end solutions with a
comprehensive range of products delivered over a common telecom data network
infrastructure reaching 500+ cities and towns in India.

A significant part of the company's revenue is derived from Corporate
Services, which include corporate connectivity, network and communications
solutions, security, network management services, enterprise applications and
hosting. Sify is recognized as an ISO 9001:2000 certified service provider
for network operations, data center operations and customer support, and for
provisioning of VPNs, Internet bandwidth, VoIP solutions and integrated
security solutions, and ISO 27001 certified for Internet Data Center
operations. Sify has licenses to operate NLD (National Long Distance) and ILD
(International Long Distance) services and offers VoIP back haul to long
distance subscriber telephony services. The company is India's first
enterprise managed services provider to launch a Security Operations Center
(SOC) to deliver managed security services. A host of blue chip customers use
Sify's corporate service offerings.

This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements contained herein are subject to risks and
uncertainties that could cause actual results to differ materially from those
reflected in the forward-looking statements. Sify undertakes no duty to
update any forward-looking statements.

For a discussion of the risks associated with Sify's business, please see
the discussion under the caption "Risks Related to Our Business" in the
company's report on Form 6-K for the quarter ended September 30, 2008, which
has been filed with the United States Securities and Exchange Commission and
is available by accessing the database maintained by the SEC at
http://www.sec.gov.

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